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The Latest Breaking News from GFG Alliance

‘Hopelessly insolvent’: how ‘saviour of steel’ Sanjeev Gupta’s global empire unravelled

This week’s collapse of the tycoon’s Yorkshire operations brought relief for some. It echoes insolvency steps at 15 of his companies

The Guardian - UK

'Strong interest' as steelworks sales process opens

There is "strong early interest" in the Whyalla Steelworks as the sale process begins and millions of dollars flow into the region from a $2.4 billion package.

AAP

Liberty Steel has not produced anything at two key plants since July 2024

Lack of work at Rotherham and Motherwell sites highlights financial crisis at UK’s third-biggest steel producer

The Guardian - UK

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Major industrial employer scales back amid tariffs

A major Australian manganese alloy smelter has scaled back production, citing global supply chain issues and US tariffs, and is encouraging staff to take leave.

AAP

With Whyalla steelworks forced into administration, Australia has crucial decisions to make on the future of its steel industry

Whyalla is a proud steel town. The steelworks physically dominates the townscape, and most jobs in the town are either directly at the steelworks or heavily reliant on it.

The Conversation

Premier lifts pressure on steelworks as debts grow

A global company must pay its creditors and demonstrate its capacity to invest in the Whyalla steelworks, SA Premier Peter Malinauskas has warned.

AAP

‘National disaster’ if troubled Whyalla steelworks falls over, SA premier warns

Peter Malinauskas calls situation ‘tricky’ but says state government will continue to monitor Sanjeev Gupta’s GFG Alliance and act where it can

The Guardian - AU

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Former head of bank linked to Greensill Capital fined by UK regulator

CEO of Wyelands Bank, part of steel magnate Sanjeev Gupta’s empire, committed ‘serious’ rule breaches

The Guardian - UK

Mining exploration on the rise in SA as demand grows for materials used in renewable energy technology

As mineral exploration in SA reaches an eight-year high, resources companies are scouring remote parts of the state for commodities needed for lower-emission steelmaking, renewable energy generation and batteries.

ABC News

Whyalla moves closer to emissions-free production as Liberty Steel signs electric furnace contract

The company behind the Whyalla steelworks signs a $485 million deal that could end the use of coal in making steel in Whyalla.

ABC News

Barrett Steel acquires Aartee Bright Bar in £13m rescue deal but Dudley plant will close

More than 170 jobs have been saved as a result of buyout struck with administrators but hot-rolled plant in Black Country is not included

Birmingham Post

Rescue deal for Black Country steel firm

Sanjeev Gupta's GFG Alliance has acquired a 100 per cent share purchase of Aartee Bright Bar's owner

Birmingham Post

Liberty Steel Group says it is nearing deal with Credit Suisse and Greensill

Sanjeev Gupta-owned firm stands to win reprieve from creditors’ insolvency proceedings

The Guardian - UK

Liberty Steel Dalzell parts ways with auditor

Accountancy firm King & King is being investigated by the UK's accounting regulator

Insider UK

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Insider UK

UK Government cancels loans to Sanjeev Gupta's group

Scottish Liberal Democrat economy spokesman calls for Scottish Government to end secrecy about its financial involvement

Insider UK

Liberty Steel reaches debt agreement with Greensill

Company says it is operationally strong, 'despite some economic headwinds'

The Guardian - UK

Sanjeev Gupta’s GFG Alliance fails to get winding-up order thrown out

Credit Suisse, one of Gupta’s main creditors, started insolvency hearings against GFG companies last month

Daily Record

Metals firm handed £586m Scottish Government support package facing court bankruptcy fight

Taxpayers could be hit with crippling losses if businessman Sanjeev Gupta’s GFG Alliance goes under as a result of the controversial deal signed by SNP ministers.

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The Guardian - UK

Sanjeev Gupta’s GFG faces insolvency fight after Credit Suisse ends debt talks

Companies in metals empire owe the Swiss investment bank more than $1bn

The Guardian - UK

FRC launches inquiries into audits of four Liberty Steel companies

Watchdog to investigate King & King’s statutory audits of companies, owned by metals tycoon Sanjeev Gupta

The Independent UK

Investigation launched into Gupta accountants

King and King will be investigated for its role as auditors in signing off accounts for four Liberty Steel businesses over the past three years.

Insider UK

Serious Fraud Office raid Liberty Steel offices as part of money laundering probe

It follows the French national police visiting the group's Paris offices and former metal manufacturing site in Dunkirk

ABC News

Serious Fraud Office visits Whyalla steelworkers owner GFG Alliance offices in UK in fraud, money laundering investigation

Properties linked to British billionaire Sanjeev Gupta's GFG Alliance have been searched by officers from the UK's Serious Fraud Office.

The Guardian - UK

Serious Fraud Office requests documents at Gupta-linked firms

UK offices of companies owned by industrialist targeted as part of money laundering inquiry

The Independent UK

Gupta’s Liberty Steel offices raided in SFO investigation

It comes almost a year after an inquiry was launched into suspected fraud and money laundering by parent firm GFG Alliance.

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